Financial news

• These cruel benefit cuts will rob security from so many – but Labour will lose something crucial too | Frances Ryan

  19-03-2025 13:03 via theguardian.com
  The worst reforms since George Osborne will teach voters that politicians really are all the same. Is it worth it?Eight months on from being elected on the promise of “change”, we’re beginning to see what Labour’s version of that looks like: sweeping cuts to the benefits system that have outraged charities, claimants and backbenchers alike.Plans to freeze the personal independence payment (Pip) have been dropped after a backlash from Labour MPs. But eligibility for the be
  
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• Santander to close 95 UK branches, putting 750 jobs at risk

  19-03-2025 11:37 via theguardian.com
  Bank says 18 other outlets will become ‘counter-free’ and further 36 will operate reduced hoursSantander is to close a fifth of its branches in the UK as part of an overhaul of its network, putting 750 jobs at risk.The retail bank said it would shut 95 out of its 444 high street outlets, and reduce the services or hours at a further 50-plus branches, by June to “better serve the changing needs of customers”.Aberdare 24 JuneArbroath 17 JuneArmagh 1 JulyBlackwood 23 JuneBly
  
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• GB Energy needs full £8.3bn of funding or it will disappoint, government told

  19-03-2025 01:01
  Thinktank’s warning follow reports that Labour is considering cuts to budget of company it set up to drive renewable powerThe government risks “disappointing voters” hoping for cheaper energy bills in the next decade if it cuts the £8.3bn budget for GB Energy, a thinktank has warned.Researchers at the Institute for Public Policy Research (IPPR) found that the publicly owned energy company – set up by Labour to drive renewable energy and cut household bills – w
  
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• Bentley could pass costs of US tariffs to buyers due to drop in Chinese demand

  19-03-2025 01:01
  
  The threat of tariffs from Donald Trump is hanging over the manufacturer, its chief executive says The boss of Bentley has warned the carmaker would pass on the costs of threatened US tariffs to buyers, as the British luxury car brand reported a drop in profits because of weaker demand from China.The brand, owned by Germany’s Volkswagen, on Wednesday reported an operating profit of €373m (£314m) in 2024, the fourth-highest in the company’s 105-year history. However, that w
  
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